UMA (UMAUSD) Begins Another Consolidation Phase After Plunge in Price
UMA Market Analysis – Price Begins another Consolidation Phase
UMA begins another consolidation phase after the price plunge. The market had initially experienced a surge in price earlier this year on the 2nd of February 2021. The coin shot up within the space of three days from the $11.550 demand to $45.000 supply. The market was quickly knocked down by the resistance and it eventually fell below the $33.500 demand. Afterward, UMA conformed to a consolidation phase, zigzagging between that $33.500 supply and $20.000 demand.
Finally, UMAUSD broke out downward after 102 days of consolidation on the 19th of May 2021. The price was plunged beyond the $11.550 support. The buyers also acted quickly, but could not lift the coin beyond the $18.000 key level before the price fell back to the…
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